Mn Services Vermogensbeheer B.V. Buys 700 Shares of Watsco, Inc. $WSO

Key Points

• Mn Services Vermogensbeheer B.V. increased its stake in Watsco, Inc. by 5.7%, owning a total of 13,000 shares worth approximately $5.74 million as of its latest SEC filing.
• Watsco's stock price on Friday opened at $389.93, with a 52-week range between $378.35 and $571.41, alongside a recent earnings report that missed analysts' estimates.
• The company announced a quarterly dividend of $3.00 per share, reflecting a dividend yield of 3.1% and a payout ratio of 92.02% as of the last announcement.

Mn Services Vermogensbeheer B.V. increased its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 5.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,000 shares of the construction company's stock after purchasing an additional 700 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Watsco were worth $5,741,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Swedbank AB boosted its stake in Watsco by 3.8% in the 2nd quarter. Swedbank AB now owns 78,585 shares of the construction company's stock worth $34,705,000 after purchasing an additional 2,854 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Watsco by 45.5% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,465 shares of the construction company's stock worth $13,896,000 after purchasing an additional 9,835 shares during the period. Thrive Wealth Management LLC boosted its stake in Watsco by 6.3% in the 2nd quarter. Thrive Wealth Management LLC now owns 771 shares of the construction company's stock worth $340,000 after purchasing an additional 46 shares during the period. Dudley & Shanley Inc. boosted its stake in shares of Watsco by 56.7% during the 2nd quarter. Dudley & Shanley Inc. now owns 39,833 shares of the construction company's stock worth $17,591,000 after buying an additional 14,405 shares during the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs acquired a new position in shares of Watsco during the 1st quarter worth about $1,459,000. 89.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WSO has been the subject of a number of recent research reports. Morgan Stanley set a $505.00 price objective on shares of Watsco in a research note on Wednesday, July 2nd. UBS Group reduced their price objective on shares of Watsco from $455.00 to $450.00 and set a "neutral" rating for the company in a research note on Wednesday, June 25th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Watsco from $445.00 to $460.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 27th. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Watsco presently has a consensus rating of "Hold" and an average price target of $484.17.

Watsco Stock Up 0.5%

Shares of WSO stock traded up $1.97 on Monday, reaching $391.82. The stock had a trading volume of 1,015,192 shares, compared to its average volume of 321,034. The firm's 50-day moving average is $425.83 and its two-hundred day moving average is $455.99. The firm has a market capitalization of $15.89 billion, a price-to-earnings ratio of 30.05 and a beta of 0.96. Watsco, Inc. has a 12 month low of $378.35 and a 12 month high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last issued its earnings results on Wednesday, July 30th. The construction company reported $4.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.84 by ($0.32). The firm had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a net margin of 7.08% and a return on equity of 16.96%. The firm's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $4.49 earnings per share. On average, sell-side analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Wednesday, July 16th were issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, July 16th. Watsco's dividend payout ratio is currently 92.02%.

About Watsco

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.